How Our Buyer Incentive Can Help Lower Your Interest Rate

We are currently offering a $10,000 Buyer Incentive on select homes! 

How to Buy Down Your Mortgage Interest Rate with a $10,000 Buyer Incentive:

When purchasing your dream home, understanding how to leverage financial tools can help you save significantly in the long run. One powerful strategy available on select homes in our Spring collection is using an our $10,000 Buyer Incentive to buy down your mortgage interest rate. Let’s break down how this works and the incredible benefits it offers!

What Does “Buying Down” Your Rate Mean?

Buying down your mortgage interest rate involves making an upfront payment, typically in the form of points, to reduce your interest rate. One point typically costs 1% of the loan amount and can lower your rate by around 0.25%. Our Buyer Incentive allows you to do this without dipping into your savings.

How to Use Your $10,000 Buyer Incentive:

1. Consult One Of Our Preferred Lenders. Start by discussing your options with a  mortgage lender. They can explain how the $10,000 Buyer Incentive can be applied towards buying down your interest rate.

2. Determine Your Loan Amount. Consider your total mortgage amount. For example, on a $300,000 loan, $10,000 could equate to approximately 3.3 points. This will help you figure out how much you can lower your interest rate.

3. Calculate the Impact. Run some calculations with one of our preferred lenders to see how buying down your interest rate can affect your monthly payment and total interest paid over the loan term. It’s essential to know how much you can save by putting that credit to work.

4. Finalize the Loan Terms. Once you’ve decided to proceed, work with your lender to finalize your mortgage terms. 

Benefits of Buying Down Your Mortgage Interest Rate:

1. Lower Monthly Payments. The most immediate benefit is the reduction in your monthly payments. With a lower interest rate, you can enjoy substantial savings each month, freeing up cash for other expenses or savings.

2. Significant Interest Savings. Over the life of your mortgage, the difference in interest can amount to tens of thousands of dollars. While the upfront cost might seem daunting, the long-term savings are worth it!

3. Higher Buying Power. A reduced interest rate can potentially qualify you for a larger loan, allowing you to purchase a home that better suits your needs and lifestyle.

4. Stability and Predictability. Locking in a lower rate means you’ll have peace of mind knowing what your mortgage payments will be, making it easier to budget and plan for the future.

Buying down your mortgage interest rate with our $10,000 Buyer Incentive is a smart move that can provide numerous long-term benefits. From lower monthly payments to significant overall savings, leveraging this financial strategy can pave the way toward a more comfortable homeownership experience.

Ready to take the next step? Reach out to our Sales Team today 513.823.3774 to explore your financing options and get started on the path to your dream home!